Fresh bids likely for NFL sale

December 06, 2003 12:34 IST

The divestment ministry may call for a second round of financial bids for the sale of the government's 51 per cent stake in National Fertilisers Ltd.

The core group of secretaries on divestment, which met on Thursday, was in favour of rebids since the price bids received on September 4 this year from Indo Gulf Corporation, Zuari-Chambal and Kribhco were below the reserve price.

NFL's sale has been hanging fire for two years. The government had last year re-started the process of divestment of the company to encourage wider participation.